April 13, 2021 | A New Piece of the Puzzle Ted Butler No one has followed the silver market trading mechanics for as long or as closely as Ted Butler. Suddenly, out of nowhere BankAmerica has emerged as a major participant in precious metals OTC derivatives. This new fact is contained in the latest release of the Treasury Department’s Office of the Comptroller of the Currency (OCC) Quarterly Derivatives Report for U.S. banks. The report covers derivatives contracts in the over the counter (OTC) market as opposed to exchange-traded options and COMEX gold and silver futures. The OCC quarterly report is delayed by 3 months, so the new report released on March 23, covers positions held as of Dec 31, 2020. (Scroll down to Table 9 near the bottom of each report).